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This opportunity will suite an astute property investor or someone looking for a bargain to live in. Situated directly opposite a leafy family park and only a short walk to the local Night Owl shopping centre, it also has the added convenience of easy access to Westfield, local restaurants, the M1 and public transport. This home also falls in the local state school catchment area as well as a short distance to 2 private schools.

This 3 bedroom home is situated in a well-established North Lakes Hotspot, the highly sought after “Freshwater Precinct”.Features include:

Floor Plan available upon request
Long Term Tenant in Place – Contact Agent for more details.

Located within walking distance of Night Owl Convenience Centre, Westfield Shopping Centre, North Lakes State College and North Lakes College and child care centres. Easy access to all amenities. Close to parks, convenience stores, transport, private & state schools, Lake Eden and Westfield Shopping Centre, this comfortable home is perfectly positioned and perfectly priced for astute buying.

The new train is now open which offers ease of access to Brisbane (40 minutes), the beautiful Redcliffe Peninsula and the Sunshine Coast.

*Important* Whilst every care is taken in the preparation of the information contained herein, L J Gilland Real Estate Pty Ltd will not be held liable for any errors in typing or information. All information is considered correct at the time of printing. Any interested parties should satisfy themselves in this respect.

The settled sales data highlights that although some regions are seeing transactions rise they remain well down on historic high levels. The relatively lower volume of transactions across markets experiencing positive population growth highlights the ongoing inefficiencies in the housing market which discourage transactions. These inefficiencies (detailed earlier) also have an economic impact as the high cost of exiting and entering the housing market is also likely to impact on labour mobility as well as home owners may choose not to move for employment because of these high costs. These are some of the reasons why state governments may consider moving away from transactional taxes such as stamp duty and towards a broader based land tax on all properties.

The 2016 Census data provides the opportunity to look at the areas across the nation which have had the highest proportion of rental properties.

The 2016 Census showed that 30.9% of residential properties nationally were rented. The proportion of properties rented has been trending higher, increasing from 29.6% at the time of the 2011 Census and 27.2% at the time of the 2006 Census. While the proportion of dwellings being rented is climbing, the proportion of properties owned without a mortgage has also been trending lower and the rate of home ownership has diminished.

Importantly, properties classified as rentals aren’t just owned by private investors. The Census data shows almost 12% of rented dwellings are owned by state or territory housing authorities and 2% are owned by community/church groups. The vast majority of rental are owned by investors, with 60% being rented through a real estate agent, while a surprisingly high 20% of rented dwellings are rented by individuals not in the same household.

The list provided in this report shows the SA2 regions of the country that had the highest proportion of properties rented at the time of the 2016 Census. As an aside, an SA2 region, on average, is home to 10,000 residents and, according to the Australian Bureau of Statistics, the purpose of the SA2 region is to represent a community that interacts together socially and economically.

The table also shows the proportion of properties rented over the 2006, 2011 and 2016 Census. Note that only regions with at least 1,000 total properties at the time of the 2016 Census have been included on the list.

Across the top 50 list, only nine of the 50 regions listed had a lower proportion of properties rented in 2016 compared to the proportion at the time of the 2006 Census. Interestingly, three of these regions were the top three most rental-centric regions (Torres Straight Islands, East Arnhem and Nhulunbuy). Note that the rental accommodation in these three regions is predominately provided by

Brisbane Wide Property Management Specialistsegions listed had a lower proportion of properties rented in 2016 compared to the proportion at the time of the 2006 Census. Interestingly, three of these regions were the top three most rental-centric regions (Torres Straight Islands, East Arnhem and Nhulunbuy). Note that the rental accommodation in these three regions is predominately provided by government.

Looking at the list of these most rental-centric regions, they can generally be characterised as being: mining and resource related regions, inner-city locations or areas which have undergone significant increases in housing density over recent years.

Over the past 10 years some of these regions have seen a significant increase in the proportion of properties being rented. In Pimpama which is half way between Brisbane and the Gold Coast the proportion of properties rented has increased from 29.9% in 2006 to 62.7% in 2016. South Hedland, in Western Australia’s Pilbara region, has also seen a significant increase in the instances of renting from 36.0% in 2006 to 65.6% in 2016.

By the time of the next Census is 2021 it is anticipated that the proportion of properties that are rented will have increased further given a growing population and ongoing housing affordability pressures, particularly within the largest housing markets (Sydney and Melbourne).

Report highlights:

RENT’s July report reveals that while prices remained stable across most Australian metro areas, Sydney and Adelaide saw apartment rents languish; prices in the New South Wales and South Australian capitals dropped 1.37 per cent and 3.45 per cent from June to July. House prices also stagnated in Brisbane, dropping 1.2 per cent to $410/week.

July’s results follow the recent release of RENT’s Quarter 2 report, which saw price shifts in four out of the eight state capitals across all property types. Considering dwelling type, it was good news for Northern Territory investors, who would have seen a decrease in time on market for both apartments (41 days down from 48) and houses (now 38 days from 42).

Metro area

Apartments

% change

Houses

% change

Price per room

% change

Sydney

$540

-1.37%

$600

0.00%

$275.00

-1.79%

Melbourne

$400

2.56%

$410

2.50%

$170.00

3.03%

Brisbane

$395

3.95%

$410

-1.20%

$156.70

1.08%

Perth

$310

3.33%

$350

0.00%

$125.00

2.04%

Adelaide

$280

-3.45%

$350

0.00%

$126.70

-0.65%

Hobart

$315

0.80%

$385

2.67%

$150.00

12.50%

Darwin

$355

-6.58%

$500

4.17%

$160.00

-1.54%

Canberra

$420

5%

$490

-2.00%

$190.00

2.70%

National median

$430

0%

$420

1.20%

$177.50

1.43%

Unsurprisingly, median rents across apartments and houses remained highest in Sydney. Broken down by dwelling type, there was a slight drop in apartment prices in the NSW capital, down 1.37 per cent to $540/week from $547.50/week in June.

Apartment prices

Canberra apartment prices increased most significantly of all state capitals month-on-month, up 5 per cent to $420/week. Canberra metro was among five state / territory capitals to record an increase in price: Brisbane (now $395), Hobart (now $315), Melbourne (now $400) and Perth (now $310) also made the list.

Median rent by property type – Apartments

Jan

Feb

Mar

Apr

May

Jun

Jul

Sydney

$510.00

$430.00

$420.00

$430.00

$420.00

$547.50

$540.00

Melbourne

$380.00

$390.00

$385.00

$390.00

$385.00

$390.00

$400.00

Brisbane

$400.00

$400.00

$395.00

$390.00

$380.00

$380.00

$395.00

Perth

$330.00

$320.00

$320.00

$320.00

$320.00

$300.00

$310.00

Adelaide

$295.00

$295.00

$295.00

$285.00

$290.00

$290.00

$280.00

House prices

Nationally, house prices rose 1.2 per cent month-on-month, with upward movement seen in Darwin ($500, up 4.17 per cent), Hobart ($385, up 2.67 per cent) and Melbourne($410, up 2.5 per cent). Rents in Adelaide, Perth and Sydney were unaffected from June to July.

A price decrease was recorded in only two Australian metro areas: Brisbane houses dropped 1.2 per cent to $410/week and Canberra houses fell 2 per cent to $490/week. Sydney’s house prices have stayed consistent at $600/week year-to-date. Despite no change month-on-month, housing oversupply in Perth has resulted in a gradual price decrease since January 2017. Figures from RENT’s latest report show Perth’s median house price has fallen 7.89 per cent since the start of 2017. Apartment prices in the WA state capital have followed a similar trend: a steady drop from $330/week in January to $310/week in July – down 6.06 per cent.

Median rent by property type – Houses

Jan

Feb

Mar

Apr

May

Jun

Jul

Sydney

$600.00

$600.00

$600.00

$600.00

$600.00

$600.00

$600.00

Melbourne

$400.00

$400.00

$400.00

$400.00

$400.00

$400.00

$410.00

Brisbane

$425.00

$420.00

$420.00

$410.00

$410.00

$415.00

$410.00

Perth

$380.00

$370.00

$365.00

$370.00

$360.00

$350.00

$350.00

Adelaide

$360.00

$360.00

$350.00

$350.00

$350.00

$350.00

$350.00

The median room price metric

Renters on the hunt for shared accommodation in July would have found the best prices by room in Perth metro – $125/week. Although prices in Perth did rise 2.04 per cent from June, the city has maintained its ranking for ‘cheapest room prices’ with prices lower than all other states since the start of the year. Comparatively, Australia’s priciest rooms were found in Sydney at $275/week.

Room prices fell in three metro areas: Adelaide prices decreased 0.65 per cent to $126.70, Darwin dropped 1.54 per cent ($160) and Sydney fell 1.79 per cent to $275. Room prices increased substantially in July for Tasmanian capital Hobart, with rooms now costing $150/week, up 12.5 per cent from $133.30/week in June. Across the country, the median room price was $177.50/week.

Prices across the regions

WA was the only state to record a decrease in regional rental prices in July – down 3 per cent to $320/week. This month’s decrease brings the trend in-line with Perthmetro’s softening rental market. The volume of properties leased in WA’s regional areas also dropped 12.54 per cent in Perth – the most significant of all five major states.

The number of regional properties leased recorded an overall drop in volume: SA (-7.39 per cent), VIC (-5.82 per cent), QLD (-4.76 per cent) and NSW down 2.10 per cent. Despite a decrease in volume, prices remained steady in NSW, SA and VIC, while QLD recorded a small increase, up 1.45 per cent month-on-month. Across the country, regional median rents rose 2.94 per cent to $350/week.

RENT’s July 2017 report compared its Walk Score data to price-per-room data across all leased properties in the month, aiming to identify price trends in areas with varying levels of walkability. Considering July’s data, the most affordable apartments meeting the Walker’s paradise criteria were in Adelaide ($225/week), while Brisbane took the lead for most affordable Walker’s paradise houses, just $186.70/week.